Mortgage Payments are Lower than 25 Years Ago

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www.freehousefind.comHere’s one more reason for homebuyers to make every effort to qualify for a mortgage right now. Home prices, in terms of actual monthly mortgage payments made by home owners, are cheaper today than they have been for more than 25 years, according to a recent analysis of Case-Shiller home values and mortgage rates by the Department of Numbers web site.

The site calculated the cost of a actual monthly payments on a 30-year mortgage at prevailing historic mortgage rates to finance the purchase of a home at Case-Shiller’s media price levels since the series began in the late 1980s. Even though real house prices peaked at the beginning of 2006 and are now back to early 1999 (and before that mid 1990) levels, today’s record low mortgage rates make monthly mortgage payments lower today than they have been since the Case-Shiller index came into being.

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Sheryl Crow’s Hollywood Hills Estate Hits the Market

Singer-songwriter Sheryl Crow opened the doors to her 1920s Spanish Revival home in the Hollywood Hills for a spread in Architectural Digest last year. Now she’s selling it and the two other houses on the 11-acre property for about $16 million. I always love it when we get to see more of an estate like this. Let’s look!

 

The main house, where Sheryl lives with her sons Wyatt and Levi, was built in 1924. She bought it first, in the late 1990s. Two years later, she acquired the bungalow and cottage nearby and created her own private compound.

In this photo from AD, Sheryl’s dog Oscar guards the front door:

The Spanish tile on the staircase is original to the house:

I’m a “book person,” so I love the little library with the windows:

No sign of the dining room in the listing photos, but here’s one from the magazine shoot:

The listing boasts a “chef’s kitchen.” I’m kinda baffled by this one and only photo of it, which doesn’t do it any favors:

 

The house has 4 bedrooms and 3.5 baths.

Architectural Digest was the Craftsman guest house on the property, built in 1909.

It has 3 bedrooms, 3 baths, and “vistas of Hollywood.”

They must have been having a sale on rugs when she was furnishing the living room. All the woodwork in the house is beautiful.

For more photos and information, check the listing by Myra Nourmand of Nourmand & Associates and read the article by Mayer Rus in Architectural Digest (photography by Roger Davies and Jim McHugh).

 

Orlando Real Estate Sales Statistics October 3, 2012

Freeshousefind.com Statistics

There are 7,404 homes for sale listed by Orlando Realtors and 10,298 homes listed as contract pending. Of the homes still available for sale, 805 are foreclosures and 1,546 are short sales. Of the homes with contracts pending, 1,047 are foreclosures and 7,306 are short sales.

Orlando real estate sales statistics for September: 2,178 closed sales with a median sales price of $125,000. Just as I thought sales did slow down a little, but that is a somewhat predictable trend this time of year. Looking for a bump in October, so far 90 sales with a median price of $150,000. That would be nice.